PICTON MAHONEY ASSET MANAGEMENT
Institutional investor · Portfolio as of Q2 2025
Top Holdings963 positions
| 10M | $806.5M | 8.3% | — | — | — | Increased — | |
| 10M | $806.5M | 8.3% | — | — | — | Decreased — | |
ROYAL BK CDA | 2.5M | $330M | 3.4% | $128.78 | 0.00% | 1 qtr | New 86 |
TORONTO DOMINION BK ONT | 3.7M | $267.5M | 2.8% | $71.15 | 0.00% | 1 qtr | New 80 |
| 1.2M | $266.3M | 2.7% | — | — | — | Decreased — | |
SHOPIFY INC | 1.8M | $202.1M | 2.1% | $115.34 | +0.01% | 2 qtrssince 2025-Q1 | Increased 85 |
CANADIAN PACIFIC KANSAS CITY | 2.5M | $195M | 2.0% | $78.59 | 0.00% | 1 qtr | New 79 |
CANADIAN NAT RES LTD | 5.2M | $162.6M | 1.7% | $30.51 | 0.00% | 1 qtr | New 69 |
WASTE CONNECTIONS INC | 757,500 | $140.9M | 1.5% | $185.20 | 0.00% | 1 qtr | New 69 |
BROOKFIELD CORP | 2.3M | $140.6M | 1.4% | $40.91 | 0.00% | 1 qtr | New 69 |
AGNICO EAGLE MINES LTD | 1.1M | $134.1M | 1.4% | $115.53 | 0.00% | 1 qtr | New 69 |
NVIDIA CORPORATION | 843,607 | $133.3M | 1.4% | $52.82 | +198.38% | 22 qtrssince 2020-Q1 | Increased 59 |
ENBRIDGE INC | 2.9M | $132.1M | 1.4% | $44.15 | 0.00% | 1 qtr | New 69 |
MICROSOFT CORP | 256,569 | $127.6M | 1.3% | $307.44 | +60.21% | 26 qtrssince 2019-Q1 | Increased 61 |
| 377,000 | $119.8M | 1.2% | — | — | — | New — | |
TC ENERGY CORP | 2.1M | $100.4M | 1.0% | $48.26 | 0.00% | 1 qtr | New 68 |
THOMSON REUTERS CORP. | 491,996 | $98.5M | 1.0% | $192.33 | 0.00% | 1 qtr | New 68 |
OR ROYALTIES INC. | 3.8M | $96.6M | 1.0% | $25.57 | 0.00% | 1 qtr | New 58 |
CELESTICA INC | 581,089 | $90.4M | 0.9% | $156.11 | 0.00% | 1 qtr | New 58 |
SUN LIFE FINANCIAL INC. | 1.3M | $87.7M | 0.9% | $64.57 | 0.00% | 1 qtr | New 58 |
PICTON MAHONEY ASSET MANAGEMENT manages $9.7B across 963 positions as of Q2 2025. Top holdings: ISHARES TR calls (8.3%), ISHARES TR puts (8.3%), RY (3.4%). Fund DNA: Diversified Scout. HoldingsIntel Score: 2/5.0.
Active quarter - 283 new positions, 245 exits, 182 increased. Top move: RY (NEW, conviction 86). Portfolio: $9.7B across 963 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
Top Losers
Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer
Verify source filings on SEC EDGAR